Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1887-01-07
THE BUSINESS WORLD.
FACTS AND FIGURES FOR THE YEAR
JUST CLOSED.


Year-General Outlook for the Current
Year
New YORK Jan. 1-Rarely has ycor
opened with greater DISAGREEMENT than she
year 1856 Rarely has year closed with
more contdcn'c. The dishsartcunou. va.
not wholly .u, lied, and there IS SOME r.l. IN
TO fear that Inc confidence may be- purity un-
warinptoI Tive failure, for the year h@vo
boon fouor than ia 1855, aud the az. II
Liabilities .a. 10 on Smaii-r Bur lire uv.,. re
for tl.' ven h1s been ecarcely lower. and Tor
the last qpm1"r failures have be'n both NOR.
num,ruu, and larger th1n for the sane
quartz" vi lNN6: the increase in amount Of
ha.Ioj... to, .hdt period being io les thau
10 per cont.
i.urd. ia" past month, the failures have
been ulid>'ul i'm amount of liabilities With
out kuo1u disturbance or depression in nm
portaut branches of trade to cause them.
they corp like Dol 5 ont of the blue and
seem TO indicate an unexpected expansion Of
credits. When it is remembered that familiar
causes OF such expansion have existed; that
the currency las been largely increased. and
that wild spsculaton ran riot month ago
IN stock and produce markets, these failures,
with their rising volume of indebtedness,
justify fear that confidence L>s grown too
fast The natural inference is that some
firms, anxious to recover in a few months
the losses Of several weary years, have gone
beyond their depth. How much of unsound-
ness in commercial credits has thus been pro-
duced, it is not yet possible to judge.
During the past week legitimate business
has not been large i'll volume. The dullness
usual in the closing week Of the year is re-
ported from all quarters. But though deal
ers arc busy in making up accounts, there Is
everywhere feeling of great confidence.
Trade during the past half year has been
very large, and generally remunerative.
The prevailing tendency is TO count upon
continued enlargement for next season and
it would be wise not to forget that it is pos
sible TO build too largely on the future, even
in a time Of real and healthy Improvement.
Prices have advanced during the week in
nearly all speculative markets A flood of
money from abroad stimulates trading here,
while strngency is noted at Boston; and
Chicago banks, anxious to keep western
money out of this city, are talking of paying
interest on deposits. Stocks are stronger. in
spite of Il rise in the rate of exchange, which
indicates that foreigners are selling to some
extent. Wheat has been active. war rumors
ruling, and has advanced pa cents, with sales
of 81 900 900 bushels in five days. Corn adj
vances cent, and pork products are active,
dressed hogs rising half cent and lard
quarter.
Cotton has stiffened on smaller receipts for
the week. and widely circulated small crop
estimates. Coffee has advanced half cent
oil 215 cents, and iron 10 cents per ton, with
over S2l bid for the No. l iron, which was
recently offered at $50. Copper is weaker at
$1l.S0; production for the year has been only
100000 pounds less than in 1885, and larger
than IL any other year, while the consump-
ton appears to have increased 20 per cent.
for the year. Coal carriers are all embar-
raised by lack of rolling stock, the output
for the year having been the largest on
record